Malagasy Foundation in Environment Tany Meva

“The board of directors of the foundation Tany Meva indicates every 2 years, an auditor to verify financial statements following the Malagasy legislation and an another auditor to verify financial statements following the standards SFAS 117 as well as the Tax return with the IRS. Auditors are appointed for two years and have to be necessarily a member of the order of the Chartered Accountants and Financiers of Madagascar (O. E. C. F. M.- Ordre des Experts Comptables et Financiers de Madagascar). The Tany Meva foundation establishes every year its financial statements according to the Malagasy regulations in effect. These financial statements are afterward verified by an auditor. For the preparation of its annual return with the Internal Revenue Service, as part of its status of "exempt organization" section 501c3, the audited financial statements are restated in order to prepare financial statements according to SFAS 117 and complete Form 990 and Schedules. Given the deadlines for sending the statement to the IRS, the Form 990 and schedules are transmitted to the IRS in its prior audit. The statements will then be audited and the audit report will be forwarded to the Board of Directors. At the end of the audit, in case of change of the Form 990 and schedules, there are two options: either the immediate correction on the current year and return to the amended IRS or to correct statements on the following year.”

“Referring to Article 9 "Executive Director" - Section "Responsabilities, Recruitment, remnuneration, Evaluation,..." of the ByLaws of the foundation : The procedures of the remuneration of the Executive director are laid down by the Board of directors which appoints it”

“Referring to Section 16.03 "Audit" of the statutes of the foundation : The social documents of the Foundation notably the verified financial statements, the annual activity report of the Board of Directors, and the reports of the Auditor are sent to the Ministry in charge of the Finance, the Ministry concerned by the Foundation's sector of activity, to the founder members and to the donors. Donors may have audits on the utilization of funds they have granted to the Foundation conducted independently of those initiated by the founder members or the Ministry in charge of Finance in the same conditions. The social documents of the Foundation must be accessible to public in the conditions of access defined in the by-laws. Furthermore, The fondation's "By Laws" that defines in the Article "Social books and documents ": In addition to the documents required by the Chart of accounts, it is held with the seat of the Foundation: a. A register of the administrators and executive officers of the Foundation in which is recorded: - a copy of the deeds of partnership of the Foundation; - names, addresses and occupations of all the administrators and executive officers of the Foundation, with the dates of their takings up the duties and the dates of their suspensions of functions b. Financial statements according to the requirements of the Tax services in the countries where the funds will be invested c. Financial reportings in accordance with the procedures required by the financial backers/givers. d. A register of the official reports of the meetings of the administrators and specific Committees of the Foundation as well as the Resolutions taken at its meetings. Pursuant to subparagraph 5 of Section 16.03 of the articles of incorporation, any person wishing to have access to the social documents of the Foundation, namely the audited financial statements, the annual moral reports of the Board of directors and the reports of the Auditor, must make of it a written request mentioning the finality justifying her request. The Exécutive Direction lays down the procedures of consultation on the spot documents with possibility of taking copy or extracts certified by the Exécutive Direction contents. Any use of the contents of this document of the Foundation must be in conformity with the purpose stated with the Foundation in the request and mention the source expressly.”

“Grants from Tany Meva's funds :Support projects improving natural resource management, enhancing long-term environmental protection and conservation and encouraging the participation of people whose livelihood depends directly on sound environmental management.”

“Grants from Ministry of the Interior and Decentralization of Madagascar : Technical assistance to strengthen green infrastructure”

“The contribution of the Tany Meva Foundation, in partnership with its supporting partner, to the execution of activities related to the valorization of genetic resources for the benefit of local communities, within the framework of the Nagoya Protocol's implementation”

“All incomes, during the year 2024, are related to the purpose of the Organization.Incomes are all from endowments and contributions”

“The financial statements of TANY MEVA Foundation are expressed in Malagasy currency (Ariary or MGA). They have been converted in US Dollar in order to comply with IRS requirements. Exchange rates are extracted from Central Bank of Madagascar's website (www.banque-centrale.mg) The principles of the conversion are following : - capital, reserves, investments are converted with the exchange rate registed on the date of transactions - account receivable and payable are converted with the exchange rate registed at the end of the fiscal year - revenues and expenses are converted with average exchange rate, excepted "Allowance for doubtful accounts, Allowance for capital losses" As a consequence, the Unrealized loss on currency conversion (USD/MGA) totalized an amount of USD 248 116”